Amazon withdrew funding from Fermi’s Texas project, Business Insider reports

Amazon (AMZN) was the prospective tenant that withdrew funding from Fermi America’s (FRMI) Texas data center project, triggering a sharp drop in Fermi’s stock after a $150M advance was canceled when exclusivity expired, Business Insider’s Dakin Campbell reports. The nonbinding deal would have anchored the project’s first gigawatt and was expected to generate more than $20B in payments over 20 years.